A RELAUNCH is planned by a community group after its escape from the brink of financial ruin.

The Slaithwaite-based Colne Valley Trust Community Trust nearly collapsed after vital funding projects, staff and administration was withdrawn in 2002.

Now its finances are stable and chairman Tom Lonsdale said it is time to look at the future.

He said the trust's priorities were to boost its popularity and to establish schemes to become self-funding, to avoid relying on one-off grants.

Mr Lonsdale added: "We need to rebuild the acceptance of the trust, so people recognise that we are there for the community, rather than for our own ends.

"The atmosphere has changed at the trust from real gloom to real excitement."

A public meeting will be held in Slaithwaite Civic Hall at 7pm on Wednesday to discuss the trust's future direction.

People who want to vote on issues raised can do this by becoming trust members before the meeting.

Mr Lonsdale said this year's plans would include getting involved with the Renaissance Market Towns scheme, run by development agency Yorkshire Forward.

The scheme will see Marsden and Slaithwaite get cash to for regeneration as market towns.

The first step in the scheme will be a study of potential regeneration projects in the towns.

To involve the community, Yorkshire Forward needs to set up a Town Team, made up of local people, firms and community groups.

Yorkshire Forward also need to find an organisation to run the final regeneration scheme.

Mr Lonsdale said the trust's set-up made it ideal to take on the role.

He said: "We can't say that the trust will be that organisation. But we can say we are ideally placed to grow into being that organisation."

He said the trust would not have even had a future without major cutbacks and the help of dedicated volunteers.

These things, plus a grant from Kirklees Council's Colne Valley Area Committee in 2002, saved it.

Volunteers were drafted in last April to fill the jobs of four staff who were made redundant when cash became too short.

In a bid to save the small amount of cash it had left, the trust also gave the upper floors of its base at Slaithwaite Civic Hall back to Kirklees. The trust offices were moved into the hall's basement.

Mr Lonsdale said: "By using volunteers we have managed to make a little money go a long way."

Area committee chairwoman Clr Margaret Fearnley is pleased with how far the trust has come.

She said: "I welcome the positive way the trust has consolidated and directed its efforts towards a really positive future for the Colne Valley.